Truth in Accounting

Memphis, TN

Click here for the detailed 2021 Financial State of Memphis (Released 2/7/2023)

Use Create Your Own City Chart to see additional financial, demographic and economic data for this and other cities

 
Memphis owns more than it owes.
Memphis' Taxpayer Surplus™ is $2,500, and it received a "B" from TIA.
Memphis is a Sunshine City with enough assets to cover its debt.
Decisions by elected officials have created a Taxpayer Surplus™, which is each taxpayer's share of money available after city bills have been paid.
TIA's Taxpayer Surplus™ measurement incorporates all assets and liabilities, including retirement obligations.
Memphis has $2.1 billion of assets available to pay the state's bills totaling $1.6 billion.
Memphis has $482.7 million available after bills have been paid, which breaks down to $2,500 per taxpayer.
Memphis's reported net position is understated by $591.2 million, largely because the city defers recognizing gains resulting from decreases in retirement liabilities.
The city's financial report was released 184 days after its fiscal year end, which is considered untimely according to the 180 day standard.
 

Prior Years' TIA Data

2020 Financial State of Memphis

2019 Financial State of Memphis

2018 Financial State of Memphis

2017 Financial State of Memphis

2016 Financial State of Memphis

2015 Financial State of Memphis

Other Resources

Memphis Annual Comprehensive Financial Reports

Publishing Entity: City of Memphis

IN THE NEWS
Financial State of the Cities 2023

FEBRUARY 7, 2023

This year's report highlights the volatility and risk surrounding pension plan assets and corresponding pension liabilities.

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